First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Sees Large Increase in Short Interest

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 6,300 shares, an increase of 61.5% from the February 13th total of 3,900 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 33,500 shares, the days-to-cover ratio is currently 0.2 days.

First Trust India NIFTY 50 Equal Weight ETF Price Performance

NASDAQ:NFTY traded up $0.44 during trading hours on Friday, reaching $52.98. 36,713 shares of the company traded hands, compared to its average volume of 36,798. First Trust India NIFTY 50 Equal Weight ETF has a 1-year low of $51.57 and a 1-year high of $65.90. The stock has a market cap of $251.66 million, a P/E ratio of 22.78 and a beta of 0.72. The firm’s 50-day moving average is $54.17 and its 200-day moving average is $58.34.

Institutional Trading of First Trust India NIFTY 50 Equal Weight ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFTY. Geneos Wealth Management Inc. boosted its stake in First Trust India NIFTY 50 Equal Weight ETF by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 38,707 shares of the company’s stock worth $2,167,000 after buying an additional 264 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 3.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 8,628 shares of the company’s stock worth $483,000 after acquiring an additional 286 shares during the period. Synovus Financial Corp boosted its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 12.5% in the third quarter. Synovus Financial Corp now owns 3,848 shares of the company’s stock worth $250,000 after acquiring an additional 427 shares during the last quarter. Ergawealth Advisors Inc. boosted its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 4.7% in the fourth quarter. Ergawealth Advisors Inc. now owns 9,880 shares of the company’s stock worth $553,000 after acquiring an additional 443 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in First Trust India NIFTY 50 Equal Weight ETF by 3.2% in the fourth quarter. Stifel Financial Corp now owns 15,985 shares of the company’s stock valued at $895,000 after purchasing an additional 497 shares during the period.

First Trust India NIFTY 50 Equal Weight ETF Company Profile

The First Trust India NIFTY 50 Equal Weight ETF (NFTY) is an exchange-traded fund that is based on the NIFTY 50 Equal Weight index. The fund tracks an equally weighted index of the 50 largest and most liquid Indian equity securities. NFTY was launched on Feb 14, 2012 and is managed by First Trust.